ICAP revises CA exam fee on CCP’s directive

KARACHI: Institute of Chartered Accountants of Pakistan (ICAP) after the direction of Competition Commission of Pakistan (CCP) has revised its fee structure for final Charted Accountancy (CA) examination. CCP received complaints from CA students regarding fee revised by ICAP in February 2014. Students of ICAP complained the drastic increase in fee had become burdensome for them. On examination by CCP, it revealed the said fee had been increased up to 118 percent compared to the previous fee for CA final examinations. Such increase in fee appeared to be unreasonable, prima facie, violating Section 3 (3) (a) of the Competition Act 2010. CCP shared this concern with ICAP and sought the rationale for this sharp upward revision of fee. ICAP, in its response, revised the fee structure by reducing it by 60 percent, thereby allaying the concerns raised by CCP.